UPDATE: D.R. Horton Posts Surge In FQ4 Profit

D.R. Horton

reported a rise in its fiscal fourth-quarter profit. D.R. Horton's quarterly profit surged to $100.1 million, or $0.30 per share, from $35.7 million, or $0.11 per share, in the year-ago period. Its home-building revenue rose 21% to $1.3 billion. However, analysts were expecting earnings of $0.28 per share on revenue of $1.35 billion. D.R. Horton's orders surged 24% to 5,276 homes. D.R. Horton shares closed at $20.60 on Friday.